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Data-driven insight. Deep expertise. Transformative innovation. Since 1947, Milliman has delivered intelligent solutions to improve health and financial security.
Manage risk, optimize performance, and stay ahead of the competition.
Milliman is a leading provider of expert consulting for the insurance and financial industries. We offer specialized expertise in actuarial science, financial risk management, and data science and AI.
Milliman Benelux offers services ranging from regulatory reporting through strategic advice and Solvency II Actuarial Function Holder work to data-driven technical models. We have deep expertise in data science & AI and healthcare consulting.
Work with a global leader in actuarial services for corporations, government organizations, and life, non-life, and health insurers. Comprehensive and flexible offerings ensuring solutions tailored to your specific needs.
Optimize insurance and corporate operations in fields such as: financial reporting and planning, underwriting, claims handling, and risk management. We are involved in most insurance mergers and acquisitions and portfolio transfers in the Benelux region. We also support developing new product concepts and conducting feasibility studies to help you achieve your goals.
Increase capital generation, reduce volatility and decrease required capital. Our support ranges from improving ALM management and hedging programs, to implementation of capital projection models. Ensuring your capital reserves suit your business goals and are aligned with the actual risk. Allowing you to gain a realistic assessment of future risk to make informed decisions in any economic climate.
Make confident decisions using proven tools customized to your needs. Our expertise in global regulatory environments ensures accurate and actionable financial projections and reporting. We help you manage reserves and capital with a clear, independent analysis of your financial situation and capital requirements.
Get an independent expert opinion from Milliman. Whether for regulatory requirements, mergers, acquisitions, restructuring, or other significant changes, we provide external review services, including outsourced Solvency II Actuarial Function Holder and Financial Risk Manager roles.
Our highly skilled consultants are driven by a passion for providing the best solutions that make a practical difference in results. Our global network of experts allows us to combine subject matter expertise with the ability to translate complex matters into actionable insights for your senior management. We have no agenda other than getting it right and offer our services in the way that best suits your needs. As your situation and needs change, we change with you.
Solve complex technical problems with practical and timely solutions. Our expert consultants deliver deep subject matter expertise and tailor their approach to your situation.
Get on-demand subject matter expertise for your internal projects. We work seamlessly with your staff, collaborating to achieve high-quality results. Our flexible approach can scale up or down based on evolving needs.
Access the talent you need when you need it. We augment your operations with the right level of actuarial and financial risk expertise.
Learn more about a specific topic by contacting your Milliman consultant or choose from our contact list.
Milliman is a leader in addressing regulatory reporting changes like Solvency II and IFRS 17. We assist with implementation, consistently refining methodologies and models to align with market experience and regulatory needs.
We stay informed about European and local supervisory matters and help you respond effectively. For example, the European Commission approved the negotiating mandate for the Insurance Recovery and Resolution Directive (IRRD) in 2022. Most European insurers will need a pre-emptive recovery plan by the end of 2024.
We track the latest Solvency II 2020 review developments and provide updates through our Insight channel.
We monitor De Nederlandsche Bank (DNB) supervisory topics and assist clients in addressing them. In recent years, we have helped clients respond to issues such as disability contract boundaries and expense modelling questions.
DNB’s 2023 focus areas include interest rates, inflation, sustainability, cyber resilience, and the risk margin. Additionally, DNB will consider the impact of the Future Pensions Act on insurers. Milliman is here to support you in addressing these topics.
Milliman brings extensive experience to consulting on the three pillars of Solvency II. We have particular strengths in the modelling complexities of Pillar I and the multiyear capital and balance sheet projections required for Pillar II ORSA.
Additional services related to Solvency II include:
Starting in 2023, insurance companies reporting under IFRS must comply with the IFRS 17 Standard. This new framework presents several challenges, including tight reporting deadlines, alignment with Solvency II, and defining and managing key metrics.
Milliman actively assists Benelux clients with IFRS 17 through methodology development and implementation support. With our deep understanding of IFRS 17 and Solvency II, Milliman is ideally positioned to help you with strategic balance sheet management topics.
Milliman’s extensive experience in the Benelux insurance M&A sector sets us apart. We offer invaluable insights on pricing, transaction potential, advanced modelling, and post-deal capabilities. Our consultants provide flexible support for buyers and sellers, with real-world experience in the complexities of M&A projects and the actuarial and financial risk guidance that drives success.
During the preparatory phase, we assist with information memorandum preparation, valuation of existing and new business, portfolio and model adjustments, and strategic presentation decisions. In the M&A phase, we contribute to discussions with potential buyers and provide support during technical sessions.
We conduct due diligence by identifying opportunities and risks, performing in-depth analysis, leading expert sessions, and presenting results for informed decision-making. Post-deal integration involves regulatory communication, entanglement process support, and integration of insurance portfolios along with valuation and capital models.
After the contract is signed, Milliman aids in regulatory communication, securing formal sale approval, and the seller’s entanglement process. We help buyers integrate acquired portfolios or insurance entities, focusing on policies, claims, valuation, and capital models. Our experience in capital model integration ensures a successful acquisition and seamless incorporation into your risk management and reporting framework.
In an interconnected world with evolving risks, insurers play a crucial role in helping society navigate challenges. Effects of climate change, such as extreme weather events, can significantly affect insurers. Milliman assists you in understanding portfolio risks, anticipating future changes, and incorporating these topics in the ORSA and other reports.
Cybercrime costs are rising due to advancing technology and the presence of valuable, sensitive data. Milliman works globally to employ cutting-edge technology, develop rapid response solutions, and create efficient risk management approaches. In the Benelux countries, we assist in developing cyber risk insurance products and help you understand, monitor, and manage these risks effectively.
To achieve accurate financial projections and reporting, sophisticated modelling tools and regulatory expertise are essential. Milliman designs customized valuation and projection tools to assess the impact of changes on reserves and capital, enabling strategic decision-making based on high-quality projections.
Milliman’s experience spans open-source software and various market-available solutions. Our independence from specific software solutions allows us to support you in software selection and implementation processes effectively.
Solvency II mandates insurers to appoint an Actuarial Function and a Risk Management Function. Many insurers face resource constraints in fulfilling these roles without conflicts of interest. Milliman offers support by collaborating with your team or providing end-to-end services, ensuring independence and eliminating conflicts of interest.
Milliman leads in creating analytics solutions to enhance decision-making, risk management, predictive accuracy, and task automation. Using advanced cloud technology and statistical approaches, we uncover valuable insights. Our Benelux team focuses on Data Science & AI capabilities and solutions. Learn more.
Milliman Benelux Insurance & Financial Risk Consulting assists in selecting and implementing modern technology. Our independence from specific tools and other Milliman practices ensures unbiased support.
To learn more about Milliman software solutions, visit the product page, or contact us.
Milliman assists self-insureds, captive insurers, and risk pools with reserving analyses, risk retention alternatives, pricing, funding, financial modelling, and claims management. Our expertise covers the full spectrum of actuarial and financial risk services for captives, including local GAAP and Solvency II reporting and Actuarial Function Holder roles.
We can support the incorporation of global employee benefits packages into reinsurance captives. We assist in setting up or expanding captives, regulatory reporting, and improving data flows once operational.
Milliman has a broad range of relevant tools and technical solutions. This section highlights some relevant tools and technical solutions for the Benelux market.
Visit the Milliman Global Products page for more information. You’ll learn about our powerful Milliman Mind solution, which can help you get a grip on complexities of end-user-computing, as well as actuarial software such as Arius for Non-Life reserving based on loss triangles.
Gain insightful visualizations and compare figures of life and non-life Belgian insurers as reported in their Solvency and Financial Condition Reports.
Milliman Mind is a flexible and easy-to-use web-based platform which automatically converts Excel spreadsheets into more powerful models.
Analyse unpaid claims liabilities with industry-leading stochastic and deterministic reserving tools and methods.
A complete overview of published materials by Milliman can be found on our global insight page.
For more information on specific topics, contact your Milliman consultant or visit our contact list.
While data science techniques offer immense potential for risk managers, (re)insurers need a multidisciplinary approach to tackle challenges and ensure successful implementation.
In a bustling pension risk transfer market worldwide, all stakeholders should be aware of the current environment for insurers.
Using mortality data adjustment methods for COVID-19 helps avoid double counting and derives long-term trends without instabilities from a one-off experience.
We discuss how the increased interest rate environment creates uncertainty, affecting economic scenarios, capital requirements, and stress and scenario testing.
Changes to UFR drag are not solely driven by the variance in market rates, but also to changes in their level and slope, and a second order extrapolation effect
Research results from accelerating projections of portfolios by compressing data of underlying policies.
Methods to detect anomalies can be used to find fraudulent claims in insurance, especially in products with a large frequency of payments, such as in healthcare.
We discuss the developments in the interest rate markets over 2022 and how the increases have affected the level of liability discount rates for insurers.
The emergence of data analytics and machine learning is providing insurers and reinsurers with new insights into how they drive and monitor their business.
A look at life, non-life and composite insurers based in Belgium shows solvency coverage ratios edging up two percentage points to 199% for year-end 2021.
Techniques in explainable artificial intelligence can indicate the reasons why a model expects a claim to be truly fraudulent, saving time for investigators.
This article describes the application of two methods for the detection of potential fraudulent claims in healthcare provider invoices.
Kurt Lambrechts is the senior manager in the Brussels office of Milliman. He and his team deliver services on actuarial modelling and model validation for Life, P&C and Health Insurance business.
He is leading multiple projects on ...
Rik van Beers works as a consulting actuary in the Brussels office of Milliman. His main focus is on risk management, capital modelling and valuation model implementation for life insurers, predominantly within the Belgian and Luxembou...
Nicholas Batens is a consulting actuary in the Belgian office. He joined Milliman in 2018. Previously, since 2002, he worked as an actuarial risk professional and spent more than 10 years as an actuarial consultant.
He is involved in...
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